Queens Park Rangers are reportedly on course to receive a £60 million fine for overspending during their failed attempt to stay in the Premier league... Under the new rules of Financial Fair Play, clubs will now be taxed on their losses. And in essence, QPR will pay a £1 fine for every £1 they lose during the 2013/14 financial year, over the figure of £18m.
This is a welcome development for football i must say, because i am an advocate of financial fair play and i don't think its okay for a club to bully another club because of its financial power. Q.P.R are being bankrolled by one of the richest Malaysian in the world - Tony Fernandes and supported by the richest Indian on earth Lakshmi Mittal. Together the both of them signed over 30 players in two years for the Hoops, most for exaggerated prices and exorbitant wages. Upon all, they still found it impossible in to compete in the EPL as they were sent packing last summer.
Immediately after they were relegated, Tony Fernandes in an interview with dailymail - confessed that it took him over £50M to know that he's been practicing financial immorality (HERE)... But things are to get worse for him as Q.P.R are expected to record another huge loss this season. If the said losses are £80m then the fine will be in the region of a massive £62m – which is almost all of what the club would receive for gaining promotion into the Premier League.
“This is the first season in which clubs will ultimately face sanctions [for over-spending],” a Football League spokesman told the Mail on Sunday.
If Harry Redknapp’s side are promoted back to the Premier League this season then the fine will be imposed in 2015. If they fail to make promotion, however, then the fine could be postponed but they would be hit with a transfer embargo.